Manitowoc price target raised to $11 from $9 at UBS

UBS analyst Steven Fisher raised the firm’s price target on Manitowoc (MTW) to $11 from $9 and keeps a Neutral rating on the shares. While UBS now thinks the recent actions by the U.S. and foreign counterparts are “driving towards the contained downside scenario,” the firm still thinks lingering uncertainty will be “somewhat of a drag on demand,” the analyst tells investors in a research note. The firm expects company initiatives to remain supportive of margins, with further efficiency initiatives accompanying the focus on increasing the mix of non-machine sales.